It will be interesting to see what these 2 actions will do when enacted together. Printing more money to stick in accounts and increasing interest rates at the same time is actually an unnatural act. Interest is supposed to be the price of money based on market interactions involving supply of money and demand for money. In general when there is more money available to lend/hand out the rate will be lower. When there is less money to lend/hand out the rate will be higher. Our leaders are trying to operate the economy outside the realm of economic reality. As far as I know this has NEVER been attempted in the history of mankind. Don't be surprised if something very strange and damaging happens. Of course that will give the Fed and the government another opportunity to "fix" it.